Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Yamuna Water Level: The threat of flood in Delhi is averted, but now people are facing a big problem
The danger of floods has been averted due to the decrease in the water level of the Yamuna in Del
Discount is available on Redmi Note 11, the phone has a 5000mAh battery with a stunning camera
Redmi Note 11 Discount Offer: Redmi (Redmi) is getting a great discount on the Redmi Note 11 smar
Kerala Varsities Chancellor Controversy: Kerala Governor Arif Mohammed Khan has questioned the le
The Central Vista Construction case was heard in the Supreme Court. Advocate Siddharth Luthra, ap
A new discussion has started in politics due to the speculation of Bihar CM Nitish Kumar going to
Inflation: Inflation and higher price may reduce the demand for gold in India
Gold demand may decline in the second half. This is because the demand for it is decreasing due t
Sajid Akram, who attacked Jews celebrating the Hanukkah festival at Bondi Beach in Sydney, Austra
WikiLeaks founder Julian Assange is in jail at Belmarsh. Efforts are on to get them out, but with
The trailer of Brahmastra, directed by Ayan Mukerji, is going to release in a few hours. The char
The tension between North Korea and South Korea has escalated once again. North Korea fired sever
